Booking Holdings is seeing early results from growth initiatives while also recording better-than-expected gains in the third quarter.The company’s efforts to advance its “connected trip” vision, to continue developing its artificial intelligence (AI) capabilities and to grow alternative accommodations all saw progress during the quarter, Booking Holdings CEO Glenn Fogel said Wednesday (Oct. 30) during a quarterly earnings call.Booking Holdings — which owns the Booking.com, Priceline, Agoda, Kayak and OpenT ...

Financial Data and Key Metrics - Revenue for Q3 2024 was $8 billion, a 9% year-over-year increase, exceeding the high end of guidance by 5 percentage points [7][40] - Adjusted EBITDA grew 12% year-over-year to $3.7 billion, 9% above the high end of prior guidance [6][7][44] - Adjusted EPS increased 16% year-over-year to $83.89, supported by a 6% reduction in average share count [7][44] - Gross bookings grew 9% year-over-year, driven by 8% growth in room nights and 39% growth in airline tickets [7][38] - Marketing expenses increased 6% year-over-year, but as a percentage of gross bookings, it decreased by 15 basis points to 5.0% [41][42] Business Line Performance - Room nights grew 8% year-over-year to just under 300 million, with alternative accommodations growing 14% [7][11][34] - Airline tickets booked increased 39% year-over-year, accelerating from 28% growth in Q2 [17][37] - Rental car days booked grew 16% year-over-year, driven by strong growth at Booking.com [37] - Connected Trip transactions, which include bookings across multiple travel verticals, grew over 40% year-over-year and represented a high single-digit percentage of total transactions [15] Regional Performance - Europe saw high single-digit growth in room nights, driving the sequential increase in global room night growth [8][34] - Asia continued to perform well with low double-digit growth in room nights, representing 24% of global room nights [8][30][34] - The U.S. experienced low single-digit growth in room nights, outpacing the broader U.S. accommodation industry [8][34] Strategic Initiatives and Industry Competition - The company is focused on growing alternative accommodations, advancing its Connected Trip vision, developing AI capabilities, and expanding in Asia [10] - Alternative accommodation listings reached 7.9 million, up 10% year-over-year, contributing to 35% of Booking.com's global room nights [11][34] - AI initiatives, including the AI Trip Planner and Gen AI-powered tools, are being integrated across platforms to improve customer experience and operational efficiency [18][19][20][22][24][25][26] - The company aims to grow faster than the overall travel industry in Asia, which is expected to grow at a high single-digit rate over the next five years [29][30] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about the resilience of leisure travel demand and the long-term growth of the travel industry [9][31] - The company expects Q4 room night growth between 6% and 8%, with gross bookings growth between 7% and 9% [47][48] - Full-year 2024 revenue growth is expected to be just below 10%, with adjusted EBITDA growth between 13% and 14% [49][51] Other Important Information - The company returned $2 billion in capital through share repurchases and dividends in Q3, reducing its cash and investments balance to $16.3 billion [46] - Fixed expenses grew 7% year-over-year, below expectations due to lower IT and G&A expenses, with a focus on driving operating leverage [43][50] Q&A Session Summary Question: AI's impact on financials and Q4 booking factors [53] - AI is expected to improve customer experience, operational efficiency, and potentially drive more direct traffic, but it is too early to quantify financial impacts [55][56][57] - Q4 bookings are expected to remain robust, with easier comps due to the Middle East conflict last year and a less expanded booking window [59][60][61] Question: Asia's recovery and alternative accommodation mix [64] - Asia's growth is driven by market recovery and strong execution by Agoda, with no single country dominating the region [65][66][67] - The alternative accommodation mix is 35%, with potential for further growth as inventory expands, particularly in the U.S. [68][69][70] Question: Europe's performance and U.S. macro views [72] - Europe saw a reacceleration in growth starting in August, driven by improved demand and the expansion of the booking window [72][73] - The U.S. market remains stable, with the company growing faster than the broader accommodation industry [8][116] Question: Marketing ROI and full-year outlook [76] - Higher ROIs in Q3 were driven by continuous optimization of marketing spend across channels, with social media spend increasing [77][78] - Full-year marketing and merchandising as a percentage of gross bookings are expected to remain flat [78] Question: Fixed investments and long-term margin potential [80] - The company has slowed hiring and is leveraging AI and other efficiencies to drive operating leverage, while reinvesting in growth opportunities [82][83][84] - Long-term margin expansion is expected as fixed investments grow slower than revenue [96][97] Question: Incrementality of alternative accommodations [90] - The company believes its alternative accommodations business has brought in new customers who would not have booked through Booking.com otherwise, particularly in Europe [91][92] Question: Social media as a growth vector [99] - Social media marketing is showing improved ROI, with increased spend contributing to higher incremental ROIs, though it remains a small portion of total marketing spend [100][101][103] Question: U.S. brand awareness and property manager experience [105] - The company is working to simplify the experience for property managers and improve brand awareness in the U.S., with stable growth in room nights [106][107] Question: Gen AI's impact on bookings and Asia partnerships [110] - Gen AI is expected to enhance Booking.com's competitive position by offering personalized experiences, while partnerships in Asia remain a small part of the business [111][112][113] Question: Booking window impact and North America investments [114] - The booking window had a slight benefit on Q3 growth, but the impact was not quantified [115] - Investments in alternative accommodations, brand awareness, and product enhancements are driving growth in North America [116][117]

Booking Holdings (BKNG) reported $7.99 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 8.9%. EPS of $83.89 for the same period compares to $72.32 a year ago. The reported revenue represents a surprise of +4.76% over the Zacks Consensus Estimate of $7.63 billion. With the consensus EPS estimate being $77.94, the EPS surprise was +7.63%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Booking Holdings (BKNG) came out with quarterly earnings of $83.89 per share, beating the Zacks Consensus Estimate of $77.94 per share. This compares to earnings of $72.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.63%. A quarter ago, it was expected that this online booking service would post earnings of $39.39 per share when it actually produced earnings of $41.90, delivering a surprise of 6.37%.Over the last four qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36691 Booking Holdings Inc. (Exact name of registrant as specified in its charter) Delaware 06-1528493 (State or other jurisd ...

Exhibit 99.1 BOOKING HOLDINGS rd Booking Holdings Reports Financial Results for 3 Quarter 2024 NORWALK, CT – October 30, 2024. . . Booking Holdings Inc. (NASDAQ: BKNG) (the "Company," "we," "our," or "us") today reported its third quarter 2024 financial results: • Room nights booked increased 8% from the prior-year quarter. • Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, of all travel services booked by our customers, net of cancellations, were $43.4 b ...

Digital travel platform Booking.com is expanding its artificial intelligence (AI)-powered features.The expansion, announced by the Dutch company Wednesday (Oct. 30), is part of a larger embrace of AI tools within the travel sector.Among the new features is Smart Filter, which lets travelers describe their ideal property in their own words. From there, generative AI scans Booking’s inventory to apply relevant filters and remove the need for manual filtering.Another feature, Property Q&A, lets travelers ask s ...

NEW YORK, Oct. 30, 2024 /PRNewswire/ --Booking.com, one of the world's leading digital travel platforms, is expanding its AI-powered features to deliver more tailored and time-saving solutions for travelers. With Smart Filter, Property Q&A, and Review Summaries, Booking.com continues to harness Generative AI (GenAI) to simplify key steps in the trip planning process, making it easier for travelers to find the perfect place to stay, analyze guest reviews and book with confidence. Search Made Simple: Traveler ...

MINNEAPOLIS, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines announces the extension of its selling schedule through September 2, 2025. With this extension, customers can book non-stop, affordable travel to more than 100 destinations through 2025. "Sun Country has more than doubled its nonstop destinations from Minneapolis-St. Paul International Airport in the past five years, making us the leisure airline of choice at MSP," said Grant Whitney, Senior Vice President and Chief Revenue Officer. "Our su ...

NORWALK, Conn., Oct. 29, 2024 /PRNewswire/ -- Third quarter 2024 financial results for Booking Holdings (NASDAQ: BKNG) will be made available at approximately 4:00 p.m. ET on Wednesday, October 30 through a press release posted to the company's Investor Relations website: http://ir.bookingholdings.com. Booking Holdings intends to hold a conference call on Wednesday, October 30 at 4:30 p.m. ET to discuss its third quarter 2024 financial results. The event will be webcasted at http://ir.bookingholdings.com. A ...